All Eyes Turn to Mercedes as Senate Panel Advances Chinese Car Ban: TDS

All Eyes Turn to Mercedes as Senate Panel Advances Chinese Car Ban: a U.S. Senate Commerce Committee on Wednesday advanced a bill that would bar automakers from selling cars in the U.S. if a Chinese entity owns more than 15% of the companies. Mercedes-Benz has become a focal point because about 20% of its investment comes from China. Senator Bernie Moreno said the company could have until 2030 to comply and might apply for waivers. Senator Ted Cruz noted General Motors backs the proposal, which Cruz said could enable Cadillac to acquire Mercedes’ forfeited share, though GM said its support is not tied to any specific automaker.